Report for Date: 25/10/2016
MCX Gold December: Hold Short Positions
MCX Gold (Price figures below are in Rs/INR per Kg)
The trend is down.
Continue to hold short positions with revising the stop loss at 30065.
Sell on better opening to 29799 – 29869 levels or above as the opportunity arises.
Expect lower levels of 29630 – 29510 to be tested.
However, since market is in oversold conditions if support levels reached in first session and then market rises to resistance do not sell.
Buy if 30138 is crossed with low of the day stop loss or 29730 whichever is lower.
TREND INFORMATION WITH INTRA-DAY LEVELS
|
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
|
Hold Short
|
29763.00
|
30037.97
|
DOWN
|
31094.00
|
27.09
|
29518.7
|
29693.7
|
29799.3
|
29868.7
|
30043.7
|
*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
|
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
|
29763.0
|
-0.6
|
16564000
|
40.9
|
8027
|
-1.3
|
Negative
|
Unwinding
|
TECHINCAL INDICATORS TABLE
|
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
|
34.84
|
-10.52
|
60.66
|
-21.49
|
-311.25
|
3.38
|
34.31
|
-27.97
|
Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.
Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.
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